Tuesday, May 19, 2009
REGION
Cortland Bancorp reports $1.4M first-quarter loss
CORTLAND — Cortland Bancorp reported a loss of $1.4 million for the first quarter, largely because of a loss on investment securities of $3.7 million. In the same quarter last year, it earned $1 million.
The company said it took the accounting charge because it owns debt obligation securities that can’t be traded because of last year’s financial crisis. It said it has maintained a strong enough capital position to absorb the impairment charge.
14 more communities sign aggregation contracts
AKRON — FirstEnergy Solutions said Monday that 14 more communities have signed government aggregation contracts for discounts on electric generation and transmission. Among these communities are East Palestine, Girard, Struthers and Youngstown.
The company, which is an affiliate of FirstEnergy Corp., has 38 communities under contract, including Boardman.
Valley Lead Group meeting
CORNERSBURG — The Valley Lead Group is inviting members and those interested in joining to meet at 4:30 p.m. Friday at Davidson’s Restaurant & Bar on Canfield Road.
The group is designed to provide qualified business leads. Each member represents a specific business category. For more information, call Rob Palowitz at (330) 599-4140.
From Vindicator staff reports